Pinterest, Inc. (NYSE:PINS) Shares Sold by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. reduced its stake in Pinterest by 5.7% in the first quarter, now holding approximately 1.24% of the company with a value of $260.6 million.
• Insiders have sold a total of 1,400,528 shares of Pinterest stock valued at roughly $47.7 million over the last quarter, with significant sales from CTO Matthew Madrigal and insider Wanjiku Juanita Walcott.
• Analyst ratings for Pinterest have fluctuated, with Piper Sandler and Raymond James downgrading the stock, while TD Cowen and Benchmark have raised their target prices, indicating a mixed sentiment among analysts.

Baillie Gifford & Co. reduced its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 5.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 8,407,556 shares of the company's stock after selling 510,273 shares during the period. Baillie Gifford & Co. owned approximately 1.24% of Pinterest worth $260,634,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of PINS. Bartlett & CO. Wealth Management LLC purchased a new position in Pinterest during the 1st quarter worth $25,000. Garde Capital Inc. purchased a new position in Pinterest during the 1st quarter worth $26,000. NBC Securities Inc. grew its position in Pinterest by 99,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock worth $31,000 after purchasing an additional 999 shares during the last quarter. American National Bank & Trust purchased a new position in Pinterest during the 1st quarter worth $32,000. Finally, Golden State Wealth Management LLC grew its position in Pinterest by 665.4% during the 1st quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company's stock worth $38,000 after purchasing an additional 1,058 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 11,510 shares of Pinterest stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $35.68, for a total transaction of $410,676.80. Following the completion of the sale, the insider directly owned 390,230 shares in the company, valued at $13,923,406.40. The trade was a 2.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Matthew Madrigal sold 20,000 shares of Pinterest stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $38.58, for a total transaction of $771,600.00. Following the sale, the chief technology officer owned 428,823 shares of the company's stock, valued at approximately $16,543,991.34. This trade represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,400,528 shares of company stock valued at $47,728,893. Corporate insiders own 7.06% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on PINS shares. Piper Sandler reduced their target price on shares of Pinterest from $41.00 to $34.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Raymond James Financial cut shares of Pinterest from an "overweight" rating to a "market perform" rating in a research note on Monday, April 7th. TD Cowen raised their target price on shares of Pinterest from $40.00 to $43.00 and gave the stock a "buy" rating in a research note on Tuesday, July 15th. Benchmark raised their target price on shares of Pinterest from $45.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, JPMorgan Chase & Co. upgraded shares of Pinterest from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $35.00 to $40.00 in a research note on Tuesday, June 3rd. Five equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $41.81.

Pinterest Trading Down 0.3%

Shares of PINS opened at $37.68 on Friday. The stock has a market cap of $25.55 billion, a P/E ratio of 13.75, a PEG ratio of 1.84 and a beta of 0.94. The company has a 50-day moving average of $34.54 and a two-hundred day moving average of $32.55. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $40.90.

Pinterest (NYSE:PINS - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). The business had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The business's revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 EPS. As a group, analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Pinterest Company Profile

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.

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